NuEnergy Gas Limited, an Australian gas and ancillary power generation development company focused on unconventional gas exploration and production in Indonesia, revealed Friday that the Rengat Production Sharing Contract (PSC) drilling of the exploratory wells, RE-03, RE-04 and RE-05 has been successfully completed to the targeted depth.

Further Geological and Geophysical studies to complement existing data will be conducted to identify and map coal continuity across the basin and to understand the reservoir characteristics for further development.

In addition, the Indonesian regulatory authority, SKK Migas has granted a one-time extension of the Exploration Period to a maximum period of four years to Nov. 29, 2019.

The Rengat PSC covers 924 square miles (2,395 square kilometers) of Central Sumatra basin and lies in-between prolific oil and gas concessions (located in the Central Sumatra basin within the vicinity of a major gas pipeline from Jakarta to the Chevron Duri Steam Flood project and related infrastructure). NGY has a 100 percent working interest in the Rengat PSC and is the operator of the PSC.

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